Wednesday August 4, 7:01 am Eastern Time
Company Press Release
SOURCE: Concentrex Incorporated
Concentrex, ULTRADATA Customers Clean Up at 1999 e-Awards
PORTLAND, Ore., Aug. 4 /PRNewswire/ -- It's a sweep!
Two credit unions using home banking solutions developed by Concentrex Incorporated won Best Online Banking honors for their asset classes in the 1999 e-Awards sponsored by Credit Union Times (www.cutimes.com). A third credit union awarded Best Online Banking has its Internet banking service powered by ULTRADATA Corporation, whose shareholders agreed July 23 to accept an acquisition offer from Concentrex of Portland, Oregon.
Together, customers of Concentrex, formerly known as CFI ProServices, Inc., (Nasdaq: CCTX - news), and ULTRADATA (Nasdaq: ULTD - news) took top honors in all three asset categories. Another Concentrex customer won three e-Awards for appearance, content, and usefulness. Over 100 credit unions from across the country entered the e-Awards with only 13 surfacing as winners. As cited by Callahan & Associates, the number of credit unions with Internet remote banking has increased by 336% from just one year ago.
''We want to congratulate our customers on gaining this special recognition from Credit Union Times,'' said Matt Chapman, CEO and chairman of Concentrex. ''It shows that they are leaders in realizing the possibilities of online banking and committed to offering their members the best services possible.''
And the winners are:
Carolina Collegiate Federal Credit Union of Columbia, S.C. won honors for best online banking and overall appearance in the under $50 million asset category. About 1,200 members use the Encore! Personal Branch-based system. The e-Awards panel noted the ability of Carolina Collegiate's system to allow members to pay bills online, transfer between accounts, cut a check to themselves, request documents mailed to their residence, view year-to-date tax information, view detailed transaction descriptions, download data into their own personal finance management software, and review account history. (www.carolina.org).
''Having an excellent Internet banking system is very important to us,'' says Anne Shivers, CEO of Carolina Collegiate. ''Serving an academic community that expects the latest and best in technology means we have to deliver it or we're not doing our job. Encore! Personal Branch allows us to do that today and looking forward.''
University Credit Union of Orono, Maine won best online banking for credit unions with assets between $50 million and $100 million. Encore! Personal Branch is the backbone of the system, which has claimed 1,000 of the credit union's 12,000 members since being unveiled in the fall of 1998. The e-Award panel again noted the statement ordering function and the high security standards of Encore! Personal Branch. (www.ucu.maine.edu)
''Our clientele loves it,'' says Howard Dunn, CEO of University Credit Union. ''They are signing up everyday. When we add the bill pay function down the road, there will truly be very little our members can't do online.''
Diamond Credit Union of Pottstown, Penn. won the 1999 e-Award for Best Online Banking with its NetBranch Online Banking. Diamond Credit Union won the award in the $100 million or more asset category.
Diamond Credit Union's site uses ULTRADATA's Ultra-Access® remote banking system, logging almost 36,000 functions per month and on a steady increase. Most of the requests are for basic account information such as balances and history with about 300 members using an electronic bill payment function, which the credit union started in October of 1998. Ultra-Access handles over 100 transactions that a teller does not have to do, drastically reducing lobby traffic.
''ULTRADATA gave us the template and we customized it to fit in with the rest of our web site.'' said John Faust, Diamond's President and CEO. ''It's been a tremendous addition to our full line of products and services.''
Diamond Credit Union has $106 million in assets and serves over 20,000 members. It has been an ULTRADATA customer since 1989 and an Ultra-Access user for almost a year. (www.diamondcu.org)
Meadows Credit Union of Arlington, Ill. Won Best of honors for content, appearance and usefulness in the $50 million to $100 million asset category. Powered by Concentrex's Encore! Personal Branch, Meadows has about 2,400 of its 20,000 members using its online banking service. In June, there were about 10,000 log-ins for the service. Judges found the service deep in information, allowing members to request information on a broad range of investment options and an online shopping page where members can buy (and finance) anything from autos to lipstick. (www.meadowscu.com)
''We see ourselves as a technologically progressive financial institution,'' says Mike Pozzi, executive vice president of Meadows Credit Union. ''The function and customizable capability offered by the Concentrex product enables us to effectively serve our members and gain new ones. With our imminent installation of the NT version, we'll be able to buckle our Internet channel into our core delivery channel, leveraging the product even more.''
''We're proud of our role in giving these customers the flexible solution they needed to serve their members,'' said Chapman. ''With the addition of powerful portal solutions we are now melding with our Internet banking solutions, smaller institutions will be able to keep up with the e-commerce wave and serve their members and customers needs.''
Concentrex Incorporated, Portland, Oregon (formerly known as CFI ProServices, Inc.), is a leading provider of technology-powered solutions to deliver financial services including solutions for real-time back office accounting, branch automation, loan origination, new account opening, call centers, cross selling of products and electronic commerce. Concentrex serves over 5,000 financial institutions of all types and sizes in the United States. Concentrex has major offices in 10 additional cities across the country. Its World Wide Web address is www.concentrex.com.
This release contains forward-looking information that involves risk and uncertainty because Concentrex's business and business agreements are subject to change, cancellation, and performance. For additional information, please refer to the Company's Securities and Exchange Commission reports filed under the Securities Exchange Act.
SOURCE: Concentrex Incorporated
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